Hartford Area Development Foundation
- Assets
- $581.9k
- Revenue
- $403.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Hartford, SD
- Founding
- 12/2000
- Data as of
- 12/2021
- EIN
- 46-0354618
Organization Overview
Hartford Area Development Foundation is located in Hartford, SD. The organization was established in 2000. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hartford Area Development Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hartford Area Development Foundation generated $403.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 65.0% each year . All expenses for the organization totaled $74.4k during the year ending 12/2021. While expenses have increased by 29.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE GROWTH OF THE CITY OF HARTFORD, SD
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF INDUSTRIAL DEVELOPMENT IN CITY OF HARTFORD AND SURROUNDING AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Farr Director | OfficerTrustee | $0 | |
Eric Bartmann Vice Preside | Officer | $0 | |
David Larson Secretary | Officer | $0 | |
Blair Bathke Treasurer | Officer | $0 | |
Justin Eich President | Officer | $0 | |
Mark O'hara Board Memebe | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,811 |
| Total Program Service Revenue | $346,247 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $403,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,463 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $832 |
| Fees for services: Accounting | $5,272 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,163 |
| Advertising and promotion | $14,787 |
| Office expenses | $965 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $591 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $651 |
| Conferences, conventions, and meetings | $3,076 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,072 |
| All other expenses | $0 |
| Total functional expenses | $74,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,946 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $154,928 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $581,874 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $581,874 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $581,874 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hartford Area Development Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Watertown Development Company Watertown, SD | $26,777,594 | $1,539,881 |
Destination Medical Center Corporation Rochester, MN | $379,838 | $2,053,572 |
Northside Economic Opportunity Network Minneapolis, MN | $8,534,205 | $5,326,140 |
Greater Fargo Moorhead Economic Development Corporation Fargo, ND | $1,995,409 | $1,379,514 |
Pottawattamie County Development Corporation Council Bluffs, IA | $7,450,789 | $1,451,387 |
Newbo City Market Cedar Rapids, IA | $2,228,131 | $819,874 |
Northspan Group Incorporated Duluth, MN | $484,560 | $824,081 |
Ocdc Inc Orange City, IA | $11,104,202 | $1,328,566 |
West Broadway Area Coalition Minneapolis, MN | $5,268,017 | $711,000 |
Downtown Billings Bid Inc Billings, MT | $644,647 | $678,748 |
Lee County Economic Development Group Inc Montrose, IA | $1,195,323 | $903,692 |
Mitchell Area Development Corporation Mitchell, SD | $4,585,529 | $855,472 |